Kazakhstan court prohibits six crypto platforms including Coinbase and BingX

AFSA obtains injunctions after crackdown on unlicensed digital-asset services

By LineZotpaper

Published20 October 2026

Read Time2 min

Kazakhstan’s Astana International Financial Centre court has issued injunctions prohibiting six cryptocurrency platforms from offering digital-asset services without licenses, according to the Astana Financial Services Authority (AFSA). The order, dated September 15, targets BingX, Bitcoin.com, Huobi Global, BitMart, Coinbase, and WEEX, with restrictions extended to app store operators Google and Apple. LBank was removed from the order after voluntarily blocking access in the country.

The Astana Financial Services Authority (AFSA) announced Tuesday that the court orders followed its lawsuit against the operators for offering digital-asset services without authorization. AFSA CEO Evgeniya Bogdanova stated that the decision results from extensive efforts to address unlicensed platforms that were advertising and operating without required permission.

AFSA had warned over 20 platforms about AIFC rules in 2025. Nine platforms voluntarily restricted access in Kazakhstan, prompting AFSA to withdraw its claims against them. Seven platforms indicated intentions to seek licenses. The remaining six face enforcement of the injunctions.

AFSA emphasized that users of unlicensed platforms lack safeguards such as asset protection, disclosure, and dispute resolution that licensed firms provide. Kazakhstan’s National Bank oversees digital-asset service providers outside the AIFC. Previous actions include blocking access to nearly 1,000 crypto exchanges in 2023 by the country’s Financial Monitoring Agency.

Analysis

Why This Matters

This regulatory action signals increased scrutiny of crypto platforms in Kazakhstan, potentially restricting user access to services.
It highlights the balance between innovation and consumer protection in emerging markets for digital assets.
The case may influence how other jurisdictions approach unlicensed crypto operations.

Background

Kazakhstan has been tightening regulation of digital-asset services. In 2023, the Financial Monitoring Agency blocked nearly 1,000 unregistered crypto exchanges. AFSA’s 2025 warnings to over 20 platforms set the stage for this court action, which targets six platforms while nine others voluntarily complied.

Key Perspectives

AFSA: The regulator asserts that legal action protects users and ensures compliance, citing risks like lack of asset protection and dispute resolution.
Affected platforms: Coinbase, BingX, and others have not publicly responded; some like LBank cooperated to avoid enforcement.
Voluntary restrictors: Nine other platforms compliantly limited access, suggesting a willingness to engage with regulations.

What to Watch

Whether the six barred platforms seek licenses or face further enforcement.
How app store operators implement geographic restrictions against these platforms.
Future moves by other crypto platforms operating in Kazakhstan to align with AFSA rules.

Sources

Kazakhstan court orders curbs on Coinbase, BingX and four others · Cointelegraph.com News

Checked

12 claims in this story checked against 1 source: 6 supported.

Show each claim

Partly supportedA Kazakhstan court prohibits six crypto platforms, including Coinbase and BingX.Cointelegraph.com News: “Kazakhstan’s Astana International Financial Centre court (AIFC) has prohibited six platforms from offering digital-asset services without licenses in its jurisdiction”
SupportedAFSA obtained injunctions after enforcement action against unlicensed digital-asset services.Cointelegraph.com News: “AFSA said Tuesday the court issued injunctions after the regulator sued operators of crypto platforms for offering digital-asset services without authorization.”
Partly supportedThe September 15 order targeted six platforms: BingX, Bitcoin.com, Huobi Global, BitMart, Coinbase and WEEX.Cointelegraph.com News: “The Sept. 15 order named BingX, Bitcoin.com, Huobi Global (HTX), BitMart, Coinbase, LBank and WEEX; an amendment three days later removed LBank after its operator blocked access in Kazakhstan.”
SupportedThe restrictions also cover app-store operators Google and Apple.Cointelegraph.com News: “Google and Apple are also covered as app-store operators, with geographic restrictions on access to the remaining platforms, according to the announcement.”
Partly supportedLBank was removed from the order after voluntarily blocking access in Kazakhstan.Cointelegraph.com News: “an amendment three days later removed LBank after its operator blocked access in Kazakhstan.”
Partly supportedAFSA CEO Evgeniya Bogdanova said the decision followed extensive efforts to address platforms advertising and operating without required permission.Cointelegraph.com News: ““This court decision is the result of extensive and consistent efforts by AFSA’s Supervision and Enforcement teams to address the activities of unlicensed crypto platforms that were advertising without authorization and offering digital asset-related services in Kazakhstan without the required permission,” said AFSA CEO Evgeniya Bogdanova.”
SupportedAFSA announced the court orders on Tuesday after suing the platform operators for offering services without authorization.Cointelegraph.com News: “AFSA said Tuesday the court issued injunctions after the regulator sued operators of crypto platforms for offering digital-asset services without authorization.”
SupportedAFSA warned more than 20 platforms about AIFC rules in 2025.Cointelegraph.com News: “AFSA said it warned more than 20 platforms about AIFC rules in 2025.”
Partly supportedNine platforms voluntarily restricted access in Kazakhstan, prompting AFSA to withdraw its claims against them.Cointelegraph.com News: “Nine voluntarily restricted app access in the Central Asian country and seven said they intended to seek licenses. The authority withdrew its claims against the nine”
SupportedSeven platforms indicated that they intended to seek licenses.Cointelegraph.com News: “seven said they intended to seek licenses.”
SupportedUsers of unlicensed platforms lack safeguards such as asset protection, disclosure and dispute resolution.Cointelegraph.com News: “AFSA said users of unlicensed platforms lack safeguards required of licensed firms, including asset protection, disclosure, complaints handling and dispute resolution.”
Partly supportedThe Financial Monitoring Agency blocked access to nearly 1,000 crypto exchanges in 2023.Cointelegraph.com News: “Cointelegraph previously reported the country’s Financial Monitoring Agency blocked access in 2023 to almost 1,000 crypto exchanges serving the country’s citizens without proper registration.”